Quantifying the Contribution of Search to Wage Inequality

• 成果类型: Article
• 署名作者: Tjaden, Volker; Wellschmied, Felix
• 署名单位: University of Bonn; IZA Institute Labor Economics
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
• ISSN/ISSBN: 1945-7707
• DOI: 10.1257/mac.6.1.134
• 发表日期: 2014
• 页码: 134-161
• 关键词: job mobility; dispersion; unemployment; RISK

摘要

We empirically establish that one-third of job transitions leads to wage losses. Using a quantitative on-the-job search model, we find that 60 percent of them are movements down the job ladder. Accounting for them, our baseline calibration matches the large residual wage inequality in US data while attributing only 13.7 percent of overall wage inequality to the presence of search frictions in the labor market. We can trace the difference between ours and previous much higher estimates to our explicit modeling of nonvalue improving job-to-job transitions.